OREANDA-NEWS. October 15, 2014. Nucor Corporation (NYSE: NUE) is pleased to announce that the Federal Trade Commission has approved its USD770 million acquisition of Gallatin Steel Company and the closing is expected in approximately ten days.   

"We are excited to be able to begin the process of integrating Gallatin Steel and our new teammates into the Nucor family," said John Ferriola, Chairman, CEO and President of Nucor.  "This acquisition is an important step in the execution of our company's strategy for profitable growth by enhancing Nucor's current position serving flat-rolled customers in the growing pipe and tube segment.  It also further strengthens one of our competitive advantages – reliability for our customers."

Nucor and affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel -- in bars, beams, sheet and plate; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating and expanded metal; and wire and wire mesh. Nucor, through The David J. Joseph Company, also brokers ferrous and nonferrous metals, pig iron and HBI/DRI; supplies ferro-alloys; and processes ferrous and nonferrous scrap. Nucor is North America's largest recycler.